Pershing, a subsidiary of The Bank of New York Company, has added Schroders Plc to FundVest, Pershing's no-transaction-fee mutual fund platform.
Pershing's FundVest mutual fund platform offers investors access to over 1,800 mutual funds managed by more than 160 fund companies. Through FundVest, investors can buy, sell or exchange an array of load and no-load mutual funds without incurring regular transaction fees.
Schroders' funds are available to Pershing's introducing broker-dealer customers and the clients they serve, and to independent registered investment advisors and their clients through Pershing's affiliate, Pershing Advisor Solutions LLC.
Jamie Dorrien-Smith, Schroders' Chief Executive Officer, Americas, said, "FundVest is widely acknowledged as one of the most comprehensive and premier no-transaction fee mutual fund platforms in the industry. We are pleased to join FundVest and look forward to offering our global funds to a broad array of independent advisors and investment professionals."
Ron Fiske, managing director of the product management and development group at Pershing, said, "Schroders is one of the most highly regarded global asset management firms in the world. The addition of Schroders to our FundVest platform underscores our commitment to provide our domestic and international customers with global investment capabilities, as well as access to high caliber global financial institutions to help them serve their clients' demands for global investing."